Moody’s: Sale of Bank of Cyprus UK is credit positive

Moody’s: Sale of Bank of Cyprus UK is credit positive

Rating Agency, Moody’s, has described the sale of Bank of Cyprus subsidiary, Bank of Cyprus UK, as credit positive, noting that the sale would place Bank of Cyprus in a better position to focus on r [...]

Fitch: Hellenic’s acquisition of CCB “positive” for its credit profile

Fitch Ratings has placed Hellenic Bank ‘s Long-Term Issuer Default Rating (IDR) of `B` and Viability Rating (VR) of `b` on Rating Watch Positive (RWP), following the announcement on June 25, that t [...]

CBC says Co-op worst case scenario theoretical amid bank run

On Friday, customers were queuing inside and outside Co-op branches leading to an increase in withdrawals, sources familiar with the matter said. In the first three months of the year, the Co-ops saw [...]

Cyprus co-op bank freezes accounts with bad loans

The Cyprus Cooperative Bank on Friday froze accounts of customers who keep their loans delinquent on purpose, as the bank makes an effort to force them to seek refinance terms. According to Kathimeri [...]

Probe into Cooperative Bank to examine both pre and post 2013 period

The probe which the government has requested into the Cyprus Cooperative Bank will look into matters before and after 2013, President Nicos Anastasiades said on Thursday. In statements before a lunc [...]

ECB welcomes draft amendment of Central Bank legislation

The European Central Bank (ECB) has welcomed a bill which sets out to amend the legislation of the Cyprus Central Bank clarifying the division of competences between its decision-making bodies. The [...]

EC: Public debt to rise

Cyprus` unemployment rates will further decline to 9.0% in 2018 and 7.1% in 2019 (11.1% in 2017) according to the Spring Economic Forecast of the European Commission, published today in Brussels. Acc [...]

Privatisation process for Cyprus Cooperative Bank postponed until mid-May

The privatisation process for the Cyprus Cooperative Bank has been postponed for mid-May.Under the initial timeframe, binding offers should have been submitted next Monday.The delay was approved by t [...]

Three investors interested in co-op bank

Three investors are interested in the co-op bank, as the procedure to dispose of the state-controlled lender enters its final stretch, it was reported on Friday. According to the Cyprus News Agency, b [...]

EU push for ‘good’ part of Co-op to merge with local lender

The European Central Bank (ECB) seems to favour merging the performing operations of the Cyprus Cooperative Bank (CCB) with another Cypriot lender, Finance Minister Harris Georgiades said on Thursday [...]